Bellevue Waterfront Booming: 2012 Waterfront Home Sales Up 55%

Sales of waterfront homes in Bellevue in 2012 dwarfed the previous year’s sales, with closed transactions at every price level showing significant gains. The 76 waterfront homes sold in the city of Bellevue marked a 55 percent increase over the previous year, and was one of the most poignant outbreaks of sales in the luxury market that we’ve seen across the Puget Sound region.

The split between Bellevue’s waterfront houses and condos held tight at 78 percent to 22 percent over the past two years, so there was not structural shift that created the increase in sales. It appears that consumer confidence, while gaining significantly in Seattle, is even more on the upswing on the Eastside.

Multi-million dollar waterfront homes in Bellevue sold at an 11 percent higher rate in 2012 than in 2011. Home of over $1 million notched an even higher gain, with a 36 percent increase. Much like in Seattle, waterfront homes and luxury real estate in general are selling at a much faster rate across the Eastside and that trend continues to point upward for 2013.